Fidson Healthcare Plc joined the growing list of quoted companies that are releasing their Q4 and full-year 2019 financial statements. The drug maker’s unaudited financials, as published on the Nigerian Stock Exchange website earlier today, showed that it made a N312 million profit despite reduced revenue. Let’s break down the details for you below.
Fidson’s Revenue: For the cumulative 4-quarter period ending December 31st 2019, Fidson Healthcare Plc made a revenue of N14 billion. This represents a 13.5% decrease when compared to N16.2 billion which the company earned during the comparable period in 2018.
The company’s cost of sales for the period stood at N8.2 billion, and this is less than N9.9 billion which the company recorded in 2018.
Fidson’s gross profit in 2019, which is the profit the company made after deducting the cost sales, was N5.9 billion. When compared to N6.3 billion gross profit that was recorded during the comparable period in 2018, there was a 7.1% decrease.
Profit before tax for the period stood at N458.9 million and this is 185% more than the 160.9 million which the company recorded during the same period in 2018. In the same vein, the drug manufacturer recorded a profit after tax of N312 million, compared to a loss after tax of N97.4 million which it recorded in 2018.
On the Nigerian Stock Exchange today, Fidson Healthcare’s share price closed trading at N2.55.
You may download the full report here.